Monday, 19 March 2018

Extracorporeal Membrane Oxygenation Machine Market: Adoption of ECMOs in ICU to Spike Demand

Transparency Market Research states that the global extracorporeal membrane machine oxygenation machine market has a moderately fragmented competitive landscape. Some of the key players in the global market Medtronic Plc., Terumo Corporation, Getinge AB, Xenios AG, MicroPort Scientific Corporation, Eurosets S.r.l., Nipro Corporation, ALung Technologies, Inc, and LivaNova PLC. The report states that the companies are expected to make product launches to garner a wider consumer base. Furthermore, players are expected to venture into newer markets through partnerships and agreements to widen their business operations.
According to the research report, the global extracorporeal membrane machine oxygenation machine market was valued at US$307.00 mn in 2016. During the forecast period of 2017 and 2025, the global market is expected to rise at a CAGR of 5.4% to reach a valuation of US$487.40 mn by the end of 2025. In terms of components, the global market is likely to be led by oxygenators during the forecast period. As of 2016, this segment held a share of 38.4% in the global market and is expected to continue its dominance. Geographically, North America is expected to dominate the global market due to better medical facilities in the region.
Extracorporeal membrane oxygenation (ECMO) machine is used for people whose heart cannot pump enough blood to the body, or lungs cannot exhale carbon dioxide even with help from a mechanical ventilator, or lungs cannot provide enough oxygen to the body even giving oxygen mechanically.
Rising incidence of cardiovascular and respiratory diseases are driving the growth of the global extracorporeal membrane oxygenation machine market. Increasing need for use of extracorporeal membrane oxygenation (ECMO) machines in newborns boosts the demand for the extracorporeal membrane oxygenation (ECMO) machines. Rising prevalence of persistent pulmonary hypertension of the newborn (PPHN), respiratory distress syndrome (RDS), congenital diaphragmatic hernia (CDH), and meconium aspiration syndrome in infants drives the global extracorporeal membrane oxygenation machine market. Increasing preference for the extracorporeal membrane oxygenation (ECMO) machine boosts the market exponentially.
Growing awareness about treating complicated respiratory issues and increasing disposable income in the emerging economies are also expected to support the global ECMO market. The report also points out that better healthcare facilities in developed nations, supportive insurance schemes, and affordable healthcare are also likely to fuel the growth of the overall market in the forthcoming years. The growing investments by governments of developing countries to improve the healthcare infrastructure is projected to have a positive impact on the global ECMO market in the long run. The report also highlights that increasing adoption of ECMOs for intensive care in critical conditions has worked in favor of the market. The unfortunate rise in demand for long-term oxygenation support for patients awaiting lung transplantation has played an integral role in augmenting the growth of the global ECMO market.
Despite the powerful market drivers, the global extracorporeal membrane oxygenation (ECMO) machine market is likely to come across a few restraints. The high cost associated with the extracorporeal membrane oxygenation (ECMO) machine a considered to be one the most significant restraints for the global market. However, the consistent investment in research and development of better technology is projected to open up several lucrative opportunities for the global market.
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